Canada’s Start-Up Visa (SUV) Program has set a record, welcoming 5,595 new permanent residents in 2024 – a dramatic surge from previous years. This reflects Canada’s increasing appeal as a destination for global entrepreneurs and its efforts to attract high-potential start-ups.
However, as the federal government prepares to stabilise immigration targets under the 2025-2027 Immigration Levels Plan, questions arise about whether the SUV program can sustain this momentum.
On This Page You Will Find:
- A breakdown of Canada’s record-high Start-Up Visa (SUV) Program permanent residents in 2024.
- Provincial analysis showing where SUV entrepreneurs are settling.
- Factors driving the SUV program’s rapid growth.
- Step-by-step guidance on how to apply for the SUV program.
- Insights on the 2025–2027 Immigration Levels Plan and how it may impact future SUV applicants.
- A frequently asked questions (FAQ) section to address key concerns about the program.
The Growth of the Start-Up Visa: A 10-Year Overview
The SUV program, launched as a pilot in 2013 and made permanent in 2018, offers permanent residency to entrepreneurs who can secure investment from a designated Canadian organisation. Since 2015, the program has grown significantly:
The dip in 2020 and 2021 was due to COVID-19-related restrictions, which slowed application processing. However, since 2022, the numbers have skyrocketed, culminating in the fivefold increase from 2023 to 2024.
Provincial Breakdown: Where Are Start-Up Entrepreneurs Moving?
The SUV program does not allocate immigrants by province, but approved applicants can choose their destination. The data for 2024 shows Ontario and British Columbia leading the way, but other provinces are also experiencing a rise in admissions.
Ontario: The Entrepreneurial Hub
- 2023: 900
- 2024: 2,800
- Growth: 211% increase
Ontario has long been the top choice for SUV immigrants, primarily due to the thriving start-up ecosystem in Toronto and the Waterloo tech hub. The province offers strong venture capital networks, incubators, and accelerators, making it a prime location for entrepreneurs.
British Columbia: Canada’s Rising Tech Powerhouse
- 2023: 375
- 2024: 2,150
- Growth: 473% increase
British Columbia, particularly Vancouver, has emerged as a major start-up hub thanks to its proximity to Silicon Valley, tech-friendly regulations, and diverse investor community. The province saw an explosive growth in SUV admissions in 2024, surpassing its previous records.
Manitoba: A Surprising Contender
- 2023: 140
- 2024: 460
- Growth: 229% increase
Manitoba has seen a steady rise in start-up entrepreneurs, thanks to its lower cost of living and growing business support programs. The provincial government has been actively promoting business immigration as a way to boost economic growth.
Nova Scotia: A Growing Destination for Entrepreneurs
- 2023: 25
- 2024: 55
- Growth: 120% increase
With a smaller but steadily increasing number of SUV immigrants, Nova Scotia is becoming a destination for entrepreneurs looking to build businesses in less saturated markets.
Other Provinces
- New Brunswick saw 30 SUV approvals in 2024, after several years of minimal intake.
- Alberta, despite its strong economy, had only 100 approvals.
- Saskatchewan had no SUV immigrants in 2024, indicating a lack of traction for start-ups under this program.
Quebec’s Absence from the SUV Program
Quebec does not participate in the Start-Up Visa Program, as it has its own business immigration programs. Entrepreneurs looking to settle in Quebec must apply through its unique immigration streams.
Why Has the Start-Up Visa Program Grown So Fast?
Several factors have contributed to the surge in SUV approvals.
Post-Pandemic Economic Recovery
Canada has aggressively expanded immigration to support economic growth. The SUV program aligns with this goal by attracting job-creating businesses.
Global Economic Uncertainty
Economic instability in countries like the United States, China, and the UK has led many entrepreneurs to seek a more stable environment in Canada.
Tech Boom in Canada
The rapid expansion of the tech sector in Ontario and British Columbia has made Canada a more attractive destination for start-ups.
How to Apply for Canada’s Start-Up Visa Program
Eligibility Criteria
To qualify for the SUV program, applicants must:
- Have a qualifying business
- Secure a letter of support from a designated organisation (venture capital fund, angel investor, or business incubator)
- Meet the minimum language requirement (CLB 5 in English or French)
- Show sufficient settlement funds
- Plan to actively manage their start-up in Canada
Step-by-Step Application Process
- Secure Investment or Support
- Obtain a letter of support from a designated Canadian investor or incubator.
- Submit an Application
- Apply for permanent residency through Immigration, Refugees and Citizenship Canada (IRCC).
- Work Permit (Optional)
- While waiting for PR approval, applicants can apply for a temporary work permit to start their business in Canada.
- Permanent Residency Decision
- Processing can take between 12 to 32 months, depending on the application volume and country of origin.
Future Outlook: Will the SUV Boom Continue?
In October 2024, the Canadian government announced a significant reduction in its immigration targets under the 2025–2027 Immigration Levels Plan. The plan outlines a decrease in permanent resident admissions from 485,000 in 2024 to 395,000 in 2025, 380,000 in 2026, and 365,000 in 2027.
This policy shift aims to address concerns about housing affordability, infrastructure strain, and social service capacities. While economic immigration remains a priority, with approximately 62% of total permanent resident admissions dedicated to this category by 2027, the federal business allocation, under which the SUV falls, drops to 2,000 in 2025 and 1,000 in 2026 and 2027. By comparison, the previous plan from 2023 targeted 6,000 SUV newcomers in both 2025 and 2026.
Given these anticipated changes, entrepreneurs considering the SUV pathway are advised to apply promptly to navigate potential future constraints effectively.
Canada’s SUV Program at a Crossroads
With 5,595 new permanent residents in 2024, the Start-Up Visa program has reached an all-time high. Ontario and British Columbia remain the top destinations, but smaller provinces are gaining traction.
However, with upcoming immigration stabilisation measures in 2025, the window for easy entry through the SUV program may be narrowing. Entrepreneurs looking to establish their businesses in Canada should expect longer processing times and greater scrutiny of their applications, requiring accuracy and professionalism to be successful.
Frequently Asked Questions (FAQ)
What is Canada’s Start-Up Visa (SUV) Program?
Canada’s Start-Up Visa Program provides permanent residency to immigrant entrepreneurs who can secure support from a designated Canadian venture capital fund, angel investor group, or business incubator. The goal is to attract innovative businesses that contribute to Canada’s economy and create jobs. Unlike temporary work permits, the SUV directly leads to permanent residency, making it an attractive option for global entrepreneurs.
What are the requirements for the Start-Up Visa Program?
To qualify, applicants must:
Have a qualifying business with at least 10% ownership.
Secure a letter of support from a designated organisation.
Meet the minimum language requirement (CLB 5 in English or French).
Demonstrate sufficient settlement funds to support themselves.
Play an active role in managing the business in Canada.
These requirements ensure that applicants have a viable start-up and the means to establish themselves in Canada.
How long does it take to process a Start-Up Visa application?
Processing times for the SUV program vary based on applicant volume and country of residence. On average, permanent residency approval can take 12 to 32 months. Some applicants choose to apply for a temporary work permit while waiting for their PR, allowing them to move to Canada and begin business operations sooner. Due to growing interest in the SUV program, applicants should apply as early as possible.
How will Canada’s 2025-2027 immigration plan affect the Start-Up Visa program?
Canada’s 2025–2027 Immigration Levels Plan will reduce business immigration allocations under which the SUV falls. In 2025, only 2,000 SUV applicants will be admitted, dropping to 1,000 in both 2026 and 2027. This is a significant cut from earlier targets of 6,000 for 2025 and 2026. With fewer spots available, demand will be higher, and application processing may take longer. Entrepreneurs should apply sooner rather than later to secure a place.
Can I settle in Quebec under the Start-Up Visa program?
No, Quebec does not participate in the federal Start-Up Visa program. The province has its own immigration pathways for entrepreneurs. If you want to start a business in Quebec, you must apply through the Quebec Entrepreneur Program, which has different eligibility criteria and investment requirements. Entrepreneurs interested in the SUV program should choose a different province such as Ontario, British Columbia, or Manitoba.
